Mexico Fund (NYSE:MXF) Major Shareholder Acquires $207,742.78 in Stock

Mexico Fund, Inc. (The) (NYSE:MXFGet Free Report) major shareholder Saba Capital Management, L.P. purchased 9,362 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was bought at an average cost of $22.19 per share, with a total value of $207,742.78. Following the completion of the acquisition, the insider directly owned 2,300,764 shares of the company’s stock, valued at $51,053,953.16. This trade represents a 0.41% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

  • On Wednesday, July 29th, Saba Capital Management, L.P. acquired 3,077 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.34 per share, for a total transaction of $65,663.18.
  • On Tuesday, July 28th, Saba Capital Management, L.P. bought 2,608 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.56 per share, with a total value of $56,228.48.
  • On Wednesday, July 22nd, Saba Capital Management, L.P. bought 7,623 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.80 per share, with a total value of $166,181.40.
  • On Thursday, July 23rd, Saba Capital Management, L.P. bought 414 shares of Mexico Fund stock. The stock was purchased at an average price of $21.11 per share, with a total value of $8,739.54.
  • On Tuesday, July 21st, Saba Capital Management, L.P. purchased 200 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.52 per share, for a total transaction of $4,304.00.
  • On Monday, July 20th, Saba Capital Management, L.P. purchased 7,631 shares of Mexico Fund stock. The shares were purchased at an average price of $21.49 per share, for a total transaction of $163,990.19.
  • On Wednesday, July 8th, Saba Capital Management, L.P. acquired 522 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.26 per share, with a total value of $11,097.72.
  • On Tuesday, July 7th, Saba Capital Management, L.P. acquired 1,828 shares of Mexico Fund stock. The stock was purchased at an average cost of $21.73 per share, with a total value of $39,722.44.
  • On Wednesday, June 24th, Saba Capital Management, L.P. acquired 5,100 shares of Mexico Fund stock. The stock was purchased at an average price of $21.31 per share, with a total value of $108,681.00.
  • On Tuesday, June 23rd, Saba Capital Management, L.P. bought 15,051 shares of Mexico Fund stock. The shares were purchased at an average cost of $21.52 per share, for a total transaction of $323,897.52.

Mexico Fund Stock Performance

NYSE:MXF opened at $21.88 on Friday. Mexico Fund, Inc. has a 52 week low of $17.81 and a 52 week high of $23.00. The stock’s 50-day moving average price is $21.70 and its 200-day moving average price is $21.65.

Mexico Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Shareholders of record on Wednesday, July 22nd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Wednesday, July 22nd.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Beverly Hills Private Wealth LLC purchased a new position in shares of Mexico Fund during the 2nd quarter valued at approximately $802,000. Saba Capital Management L.P. raised its position in Mexico Fund by 4.3% during the first quarter. Saba Capital Management L.P. now owns 1,764,332 shares of the investment management company’s stock worth $36,927,000 after acquiring an additional 73,032 shares during the period. Allspring Global Investments Holdings LLC raised its position in Mexico Fund by 2.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 981,733 shares of the investment management company’s stock worth $20,548,000 after acquiring an additional 27,983 shares during the period. Calamos Advisors LLC lifted its holdings in Mexico Fund by 13.5% during the first quarter. Calamos Advisors LLC now owns 21,299 shares of the investment management company’s stock valued at $446,000 after purchasing an additional 2,535 shares in the last quarter. Finally, Altium Capital Management LLC lifted its holdings in Mexico Fund by 165.5% during the first quarter. Altium Capital Management LLC now owns 128,185 shares of the investment management company’s stock valued at $2,683,000 after purchasing an additional 79,898 shares in the last quarter.

About Mexico Fund

(Get Free Report)

The Mexico Fund, Inc (NYSE: MXF) is a closed-end management investment company that seeks long-term capital appreciation through exposure to Mexican securities. The fund primarily invests in equity instruments of companies organized or principally operating in Mexico, spanning a range of sectors such as financial services, consumer goods, industrials and energy. It may also allocate portions of its portfolio to fixed-income securities, including government and corporate bonds, when attractive opportunities arise.

Launched in 1991 and incorporated under Maryland law, The Mexico Fund offers U.S.

Further Reading

Insider Buying and Selling by Quarter for Mexico Fund (NYSE:MXF)

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